Global Chatbot Market 2018-2022 to Post a CAGR of Over 24% | Technavio

Technavio has published a new market research report on the global chatbot market from 2018-2022. (Graphic: Business Wire)

LONDON--()--The global chatbot market is expected to post a CAGR of more than 24% over the period 2018-2022, according to the latest market research report by Technavio.

A key factor driving the growth of the market is the advantages of chatbots over other customer support options. A chat-bot is a front-end interface, which is used to connect to various kinds of channels such as websites, SMS, email or messaging applications such as Facebook, Slack. Chatbots integrated with AI tools collect consumer data and are smart enough to provide a personalized experience as they can recognize human emotions such as anger, confusion, fear, and joy.

This market research report on the global chatbot market 2018-2022 further provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

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In this report, Technavio highlights the integration of chatbots with communication channels as one of the key emerging trends in the global chatbot market:

Global chatbot market: Integration of chatbots with communication channels

Chatbots are omnichannel as these bots can be integrated with just about any platform. For instance, Microsoft Bot Connector is a communication service which links bots with other communication channels such as Skype, email and more. The rise of the internet, digitalization, and the adoption of mobile devices have changed the way people and companies interact. Facebook-owned messaging apps send 60 billion messages a day, which is three times the number of SMS messages sent globally per day.

“Some of the other key names in bot building are PANDORABOTS,, KiK, and Chatfuel. In the future, as chatbots become monetized, there will be opportunities for the mass distribution of marketing and promotional material using chatbots,” says a senior analyst at Technavio for research on enterprise application.

Global chatbot market: Segmentation analysis

This market research report segments the global chatbot market by end-user (retail, BFSI, travel and hospitality, government and others), and key regions (the Americas, APAC, and EMEA).

The retail end-user segment dominated the market in 2017, followed by the BFSI, and travel and hospitality segments. During the forecast period, the retail segment is expected to witness the highest growth in its market share as compared to all the other segments.

Americas held the highest share of the global chatbot market in 2017, accounting for a market share of more than 51%, followed by APAC and EMEA respectively. The market share of APAC is expected to witness the maximum increase during the forecast period, while the other two regions are expected to see a decline in their market share over the forecast period.

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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market sizing
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200

Release Summary

The global chatbot market is expected to post a CAGR of more than 24% during 2018-2022, according to the latest market research report by Technavio.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200